Preparing for Divorce

By
Roscich & Martell Law Firm, LLC
|February 27, 2017

Most couples who end up getting
divorced usually see it coming months—if not years—before the papers
are actually filed. It is not an uncommon scenario for a husband and wife
to stay together long after they both realize their marriage is over.
For anyone who is in this situation, there are steps that should be taken
before the divorce process begins in order to ensure there is an equitable
division of assets and no surprises for either party during divorce negotiations.

Financial Documents

When contemplating divorce, the first step a person should take is to gather
copies of all of the couple’s financial records, including:

Bank statements, such as checking and saving accounts, certificate of deposits, etc.;

Retirement account statements;

Tax returns;

Deeds to any properties, both jointly and solely owned;

Mortgage statements and HUD documents;

Home equity lines of credit statements;

Property tax bills;

Appraisals; and

Rental receipts and leases for any rental property owned.

Any documents pertaining to financial accounts the couple owns should go
back between three to five years if possible. All real estate documents
should go back to when the couple purchased the property.

Assets and Debts

Once all financial documents have been gathered, the next step is to list
all the assets the couple owns, as well as all the debt they owe. Illinois
is an equitable division state, which means that any assets or property
a couple has amassed during their marriage is subject to an equitable
division upon divorce.

The courts do not necessarily look at whether or not a spouse’s name
is on a bank account or on a property deed. If the asset was acquired
during the marriage, then the court considers it part of the marital estate.
There are some exceptions to this rule and a knowledgeable divorce attorney
will help navigate through the property and asset division process.

Change Estate Planning Documents

There are several important estate planning decisions that a person considering
divorce will have to make. For example, if he or she does not want his
or her spouse to be able to make medical or end-of-life decisions, then
he or she will need to either change or have a new living will or advanced
directive drafted. Drafting a new will, removing his or her spouse from
inheriting assets, may also need to be done. These are all decisions that
a divorce attorney can guide you through.

Contemplating an Illinois Divorce?

If you are considering a divorce, or have already made the decision to
end your marriage, contact a skilled
Naperville divorce attorney to discuss your situation. Call Roscich & Martel Law Firm, LLC at
(630) 793-6337 to schedule your confidential consultation today.

The information on this website is for general information purposes only.
Nothing on this site should be taken as legal advice for any individual
case or situation. This information is not intended to create, and receipt
or viewing does not constitute, an attorney-client relationship.